StripMallGuy

Yes, this was my actual license plate. Yes, I was 24 years old. Yes, it was on my car for a couple years. Yes, it was twenty years ago. No, I haven’t told a soul since.

Didn't plan it that way, but I didn't become a parent until I was 40. Lots of great memories of travel and incredible events from my 20s and 30s. But NOTHING compares to how excited I am to take my 4-year-old son on the train to Boston tomorrow to see the Red Sox at Fenway.

The First Republic Bank transition created a major shakeup for lots of real estate operators. For our real estate fund, their line-of-credit product was magic, and would create a huge void if not replaced. It helped us win deals by drawing upon $10M+ within 48 hours if needed. It also provided access to cash between capital draws. In fact, when we chased a deal from a large institution, one of the things they asked was who our line of credit facility was with, and the amount. The industry understands the certainty of close it provides. So, like many other funds, we went off scrambling to replace that product. Turned out our main contact at FRB (I won't share his name because I don't want Alex Bolton getting a million calls 😜 ) -- ended up at Citizens Bank And, they offer the line of credit product! Sent final paperwork in this morning Huge shoes to fill, but confident they are up to the task. Looking forward to big things ahead!

It would be interesting if retail properties were assigned gradings like diamonds are. Unless you have a very keen eye and deep expertise, two seemingly identical properties may have attributes that make one worth twice as much as the other. This happens in retail more than any other real estate asset class. Ratings would be given based on parking ratios, turn lanes, signage opportunity, depth, facade presence, elbow spaces, traffic counts, the list goes on and on. The nuance factor in retail leads to many buyers buying terrible properties they think are top notch, and allows professional buyers to pay pennies on the dollar for top-notch sites. You gotta know what you have -- but in retail, few do.

Broker I know recently listed a prime retail space for lease within a tertiary market. A bidding war broke out between multiple restaurants. $48 a foot, then $54, and finally the broker asked for a "best and final" from the parties involved. $60 a foot! Unheard of in that market, and in most markets. Apparently the backstory is that the $60 bidder is a national restaurant chain that knowingly will break even at this rent, but needs to get in that market, has no other options, and needs to meet investor store count expectations. Seeing this dynamic play out all over the place.

-Real Estate Controller -Bay Area -3 Days in office (SF or San Jose) -Salary $200K+ -Family-owned, around 12 centers -Must Have Retail Experience -Last person had this job for 30+ years DM me, and will connect you with them.

You're either an entrepreneur, or you're not. Yes, it might take time to figure out if you have the necessary skills to start and run a successful business, but at some point you need to make the call and be honest with yourself. Sure, if you never started a little side business growing up, or never showed genuine interest in business in your teens or early twenties, there is still a chance you're an entrepreneur at heart, but the writing is more likely on the wall. If you're reading a bunch of books on entrepreneurship for years and years, but still haven't started anything that's gained any traction, it's probably not in the cards. If you're pushing thirty, and still looking to see if you have that entrepreneurial spirit, chances are you don't. Even for someone who has somewhat of an entrepreneurial mindset, you need to be much better than average in order to compete in the business world. Reality is, the vast majority of people would be much better off as employees - and there is absolutely nothing wrong with it. In fact, the sooner you recognize it, the better off you are. I think it's terrible that society has placed such a negative cloud around working for somebody. Having a job where great performance will help you earn a nice living and provide for your family is a great option. A steady job provides peace of mind, and many would argue there is much greater freedom as an employee than in running a business. According to the US Small Business Administration, small business owners have a median income of around $55,000. Reality is, running a business usually means making ok money. The vast majority do not get rich. I see so many people wasting years and years trying to force something that, for the vast majority of the population, just isn't there. It's a gift to recognize what your skills are. But an even greater gift to recognize what they're not.

Commercial real estate is about math. Residential real estate is about emotion. It's wonderful to fall in love with your house. It's terrible to fall in love with your apartment building. Your home produces a great family environment. Your commercial property produces income. Your home is a consumer good. Your commercial property is a financial instrument.

The fear of the phone call is out of control. I can't tell if much of the new generation dislikes calling or answering more. I find that even when they need to call, they text first, asking when a good time is to call. It's called a telephone. If you like money, use it.

Around 8% Property Taxes. Yes, that is approximately what you're paying in Cook County, Illinois on commercial real estate property. It covers much of the area around Chicago, and is one of the wildest things I've ever heard in commercial real estate. I don't know how they got here, but I hope they fix it. One example of a deal we looked at earlier this year: $3,425,000 price $258,000 property taxes (pre next assessment). You see this sort of thing all over the place.